Choppy markets in tariff war, Nvidia shines

Wednesday night, a U.S. court struck down nearly all of Trump’s tariffs, stating that he never had the authority to impose them in the first place. Futures jumped 2% immediately, but by Thursday’s close the U.S. indices barely gained ground. On Thursday, Trumps dug in his heels, plunging markets back into uncertainty. By Thursday’s close, the S&P had gained only 0.4%, the Nasdaq 0.39% and the Dow 0.28%. The dour sentiment coincided with earnings.

HP closed the day -8.27%, Best Buy -7.27%, Arista Networks -6.92% and Uber -4.49%. A rare bright spot was Nvidia, rallying 3.25% after delivering a strong quarter. The U.S. 10-year yield edged down 4.43% while Bitcoin sank 1.1% to US$106,200.

The TSX sank 0.28% in mixed trading. Real estate and telcos were up, but staples and financials were down. Major movers: BRP 12.68%, Bombardier 3.65%, EQB -7.44%, Denison Mines -7.17% and Royal Bank -3.47% after reporting to end bank earnings season. Gold regained US$28 to US$3,315 while WTI slid 1.5% to US$60.90.

💻 Hewlett-Packard Co (HPQ-N) -8.27%

🛍 Best Buy Company Inc (BBY-N) -7.27%

💾 Arista Networks (ANET-N) -6.92%

🚕 Uber (UBER-N) -4.49%

💾 NVIDIA Corporation (NVDA-Q) +3.25%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.1%

🛍 BRP INC. (DOO-T) +12.68%

🚂 Bombardier Inc (B) (BBD.B-T) +3.65%

🏛 Equitable Group (EQB-T) -7.44%

⛏ Denison Mines Corp (DML-T) -7.17%

🏛 Royal Bank (RY-T) -3.47%